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Unread 12-01-2007, 11:50 AM
 
1,729 posts
Reputation: 388
Quote:
Originally Posted by El General View Post
They sure did used to put up the SOLD sign on top of their FOR SALE SIGN. I haven't seen any UNDER CONTRACT signs lately, either.
Well, OK, I mean, I think it is probably accurate that houses aren't selling, but any signs for "contract pending" or "sold" could stop potential buyers from calling, especially if there is any chance at all that the sale could fall through. I did once call about a house, found out it was "contract pending" (no sign) and he took my name in case something happened at inspection. Now, would I have really wanted a house that didn't pass inspection? Sorry to digress.
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Unread 12-01-2007, 12:23 PM
 
3,836 posts, read 5,630,784 times
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Good point, goldenmom. A sold sign could discourage buyers from making back-up offers.
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Unread 12-01-2007, 01:25 PM
 
Location: Home is where the heart is
15,402 posts, read 16,266,796 times
Reputation: 18766
Yes, the Target is technically in Sterling. Sterling is a very confusing term.
Since there are no actual cities (just large HOAs) the post office has classified all of the area, from the county line to Ashburn, as Sterling. Most people, however, use the word "Sterling" to refer ro an area also known as Sterling Park. That area is south of Rt. 7 and near Herndon.

Cascades is the name of a very large HOA. It's so large that it has various sections with names like Lowes Island, Riverbend, etc. Many people also call the same area Potomac Falls because that is the name of the high school.

The other odd thing about not having city governments is that your towns don't appear on maps. If you look at a map of Northern Virginia, you would think all of Eastern Loudoun county is just empty land.
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Unread 12-01-2007, 01:26 PM
 
Location: Home is where the heart is
15,402 posts, read 16,266,796 times
Reputation: 18766
So, just to illustrate how confusin this can get... if you live in Lowes Island, the post office thinks you live in Sterling. But you still have to drive 8 miles to get to what most people think is Sterling (aka Sterling Park).
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Unread 12-01-2007, 01:36 PM
 
1,729 posts
Reputation: 388
Quote:
Originally Posted by normie View Post
Yes, the Target is technically in Sterling. Sterling is a very confusing term.
Since there are no actual cities (just large HOAs) the post office has classified all of the area, from the county line to Ashburn, as Sterling. Most people, however, use the word "Sterling" to refer ro an area also known as Sterling Park. That area is south of Rt. 7 and near Herndon.

Cascades is the name of a very large HOA. It's so large that it has various sections with names like Lowes Island, Riverbend, etc. Many people also call the same area Potomac Falls because that is the name of the high school.

The other odd thing about not having city governments is that your towns don't appear on maps. If you look at a map of Northern Virginia, you would think all of Eastern Loudoun county is just empty land.
Aha! Of course, I know all of those places (Lowes Island, etc.) but I was getting confused. There was a time when I thought certain addresses had been switched to Potomac Falls and now I am seeing them as Sterling again. When I last heard - maybe 7 to 8 years ago - someone said something about "Potomac Falls" wanting to break away and ... I don't know, at least be their own section whatever that means. It's just a blur in my memory.
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Unread 12-01-2007, 07:39 PM
 
Location: Fairfax County, VA
16 posts, read 39,773 times
Reputation: 15
HOT OFF THE PRESS: The latest information out there is that the last 2 weeks, "pending sales" (not yet closed) increased by .2% nationwide. Not much, but the best news in a long while. Existing home sales are now forecast at 5.7 mil. for 2007, making it 5th highest sales year on record. Though sales are down from the prior years, the market of 2004 and 2005 was not a normal market. New Home Sales will add another 800,000 sales totalling the number of sold homes to 6.5 Mil. for 2007, quite good despite negative economic news from the media. Rates are still very good, and the Feds announced that home values are stabilizing or rising in twice as many markets as they are down (First American Corelogic). With the large inventory on the market, it would take at least 6-8 months to sell all homes on the market were they priced right. But some prices are still inflated, so inventory is not moving as it could.

I sure hope we'll see more SOLD signs coming up soon. According to MLS, you should see 38 SOLD signs pretty soon in Manassas.
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Unread 12-02-2007, 08:07 AM
 
19,178 posts, read 18,141,479 times
Reputation: 3881
The number of existing single-family homes sold in Fairfax County during the first nine months of 2006 was 4,858. The number for 2007 was 4,670. If people can discern that sort of difference just by driving around, they've got a pretty sharp eye...
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Unread 12-02-2007, 09:24 AM
 
1,824 posts, read 2,778,999 times
Reputation: 1358
I've seen a couple of nearby homes go under contract and get sold. One was on the market off and on for over two years, and the other was on the market for about ten months. I'm sure they both had to bring their price down substantially. I know that the second one reduced their asking price from $800 to $580 and then it took another two or three months before it finally sold at yet an even lower price.

" "pending sales" (not yet closed) increased by .2% nationwide."

The National Association of Realtors said its overall pending home sales index hit 85.7 in September, a steep drop from the year-ago reading of 107.6 but up from the prior month's level of 85.5. In the Midwest, the index dropped 14.4% year over year; in the South it declined 19.7%, in the West it plunged 25.6% and in the Northeast it dropped 23.1%, the NAR reported. "These data now suggest that after a weaker spring and summer sales season, the autumn looks to be no better and there is still no bottom in sight despite the slight increase this month," wrote Joshua Shapiro, chief U.S. economist with MFR Inc. "Sales will continue to fall until there is a greater price capitulation by sellers, as it still appears that we have not reached market-clearing prices to reduce the inventories of unsold existing homes." September's reading was up 0.2% from the prior month, while Wall Street analysts were looking for a slight decline. "Over the near term, home sales are likely to be fairly flat as the lingering impact of the credit crunch filters through the system through the end of the year," said Lawrence Yun, NAR's chief economist. September's "pause in the plunge" does not change the pending sales trend, which remains "sharply downwards," wrote Ian Shepherdson, chief U.S. economist with High Frequency Economics. He added that pending sales fell at a 42.1% annualized rate during the third quarter -- "easily the worst performance" since the data were first recorded in 2001.

Index of pending home sales tumbles from year-ago level - MarketWatch

Pending sales in Nova are down 25 to 30 percent.

http://www.varealtor.com/LinkClick.aspx?fileticket=JXmC4pvMHN0%3d&tabid=228 &mid=1009 (broken link)
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Unread 12-02-2007, 12:21 PM
 
1,729 posts
Reputation: 388
Quote:
Originally Posted by lchoro View Post
I've seen a couple of nearby homes go under contract and get sold. One was on the market off and on for over two years, and the other was on the market for about ten months. I'm sure they both had to bring their price down substantially. I know that the second one reduced their asking price from $800 to $580 and then it took another two or three months before it finally sold at yet an even lower price.

" "pending sales" (not yet closed) increased by .2% nationwide."

The National Association of Realtors said its overall pending home sales index hit 85.7 in September, a steep drop from the year-ago reading of 107.6 but up from the prior month's level of 85.5. In the Midwest, the index dropped 14.4% year over year; in the South it declined 19.7%, in the West it plunged 25.6% and in the Northeast it dropped 23.1%, the NAR reported. "These data now suggest that after a weaker spring and summer sales season, the autumn looks to be no better and there is still no bottom in sight despite the slight increase this month," wrote Joshua Shapiro, chief U.S. economist with MFR Inc. "Sales will continue to fall until there is a greater price capitulation by sellers, as it still appears that we have not reached market-clearing prices to reduce the inventories of unsold existing homes." September's reading was up 0.2% from the prior month, while Wall Street analysts were looking for a slight decline. "Over the near term, home sales are likely to be fairly flat as the lingering impact of the credit crunch filters through the system through the end of the year," said Lawrence Yun, NAR's chief economist. September's "pause in the plunge" does not change the pending sales trend, which remains "sharply downwards," wrote Ian Shepherdson, chief U.S. economist with High Frequency Economics. He added that pending sales fell at a 42.1% annualized rate during the third quarter -- "easily the worst performance" since the data were first recorded in 2001.

Index of pending home sales tumbles from year-ago level - MarketWatch

Pending sales in Nova are down 25 to 30 percent.

http://www.varealtor.com/LinkClick.aspx?fileticket=JXmC4pvMHN0%3d&tabid=228 &mid=1009 (broken link)

I gave you rep points, but you really should join the "Mensa" website

joking of course, I love good data
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Unread 12-02-2007, 07:02 PM
 
192 posts
Reputation: 21
Sales in 20110, Manassas for the first half of 06 numbered 684. Same period in 07==31 homes sold. That's a decrease of 95.4%.
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